Suffolk Building Society Conveyancing Panel Information
The information on this page is designed to keep solicitors and licensed conveyancers abreast of latest requirements changes by Suffolk Building Society and to assist in remaining on the Suffolk Building Society Conveyancing Panel.
Looking for information about your firm's panel status?
Suffolk Building Society Conveyancing Panel Information:
The Society operates a Conveyancing Panel and in order for Firms to act for the Society you must be appointed to this panel. To be appointed to the panel you should apply at:-
You must also comply with the terms and conditions of your Suffolk Building Society solicitor panel appointment.
Remember that most ‘less usual searches’ (as described in the Law Society’s Conveyancing Handbook) are not optional as far as Suffolk Building Society are concerned if they are ‘appropriate’. Most lenders will not require environmental searches (you should Check the Suffolk Building Society Specific Requirements of BSA Handbook to be sure), but you are obliged to explain risks and availability to the borrower.
Ground stability, Plansearch,flood searches as well as the searches listed in the question are optional – but only to the extent that you have allowed the borrower client to make an informed choice. Regardless of whether there is a mortgage, If you have not advised the client that these (and other) searches are available and what risks they cover, then you will be liable if the client suffers loss through not conducting one.
Check with your Compliance Officer, but a firm should not send the complete conveyancing file without the borrower client’s express consent – and if he is in arrears with the lender he is hardly likely to agree. However, if the lender can establish a prima facie case of fraud, then you may be under an obligation to disclose the whole file.
The emerging convention is that lenders are including an authority to disclose in loan application forms to counter this problem. Mortgage Express v Sawali, 2010 EWHC 3054 (Ch) indicates that such provisions valid? Please click here for more information about that case.
- lack of transactions
- the lawyer is a sole practitioner
- as part of the HSBC panel reduction.
Find a Lawyer on the Suffolk Building Society Conveyancing Panel
powered by LenderPanel